Contacting Delinquent Borrowers: Following the Spirit & Intent of the FDCPA

Today’s borrowers can quickly gather information on what can and cannot be done to collect on an outstanding loan balance. While financial institutions typically do not collect third-party debt, and thus don’t meet the definition of a debt collector, your borrowers still have the same expectations. Thus, it is critical that your collection practices resemble the spirit and intent of Regulation F which implements the Fair Debt Collection Practices Act (FDCPA) to avoid potential consumer harm through unfair, deceptive, or abusive acts or practices (UDAAP). 

This presentation will explain the consumer protections and debt collector responsibilities of Regulation F, including communication efforts via email, text, and social media. The rules outline prohibitions on communications at unusual or inconvenient times or places, as well as bans on harassment or abuse. Join us to ensure that collection expectations are well understood.